EU unveils plan for €95 ($107) billion US goods tariff threat
The European Commission has initiated consultations on a list of goods worth €95 ($107) billion that are imported from the USA. In the absence of an agreement with Washington, these goods could face retaliatory tariffs from the EU. The list includes items such as aircraft, cars, machinery, whiskey, fish, and nuts.
The new list does not cover goods for which the European Union announced tariffs in April, as their implementation was suspended due to the 90-day postponement of the so-called mutual tariffs announced by US President Donald Trump.
EU retaliatory tariffs: The list is available
The European Commission has proposed a new step to impose tariffs on goods exported from the EU to the United States as well. The tariffs would affect steel and chemicals sold to the USA, valued at €4.4 ($5) billion.
Consultations regarding the new list will last until June 10. Some goods may be removed after consultations. "We invite Boeing to participate in them," an anonymous EU official told journalists.
According to the official, tariffs on the aerospace industry, as per the EC's proposal, could involve imports valued at €10.5 ($11.9) billion, with the reference point being the import value in 2024. The value of goods from the automotive sector is expected to exceed €12 ($13.5) billion.
Meanwhile, retaliatory tariffs on the agricultural sector will cover imports valued at €6.5 ($7.35) billion, of which €1.3 ($1.5) billion is accounted for by American alcohols like whiskey and wines. The EC also proposed tariffs on fish valued at €500 ($565) million. After consultations, the EC will draft a final list of proposed goods to be tariffed. However, to take effect, they must gain the approval of EU member states.
